Quick facts: Nevada, MO

Quick Facts

94.1
Cost of Living
below US average
8,205
Population
63.01
Crime Rate per 1000
above US average
$44,318
Median Income
below US average
$159,900
Median House Price
above US average
$857.5
Average Rent
below US average
14%
Poverty Rate
above US average
3.4%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,318.

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Income Needed to Buy

βœ— Stretch
$50k/year
Based on $159,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $50k vs median $44,318
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Income Needed to Rent

βœ“ Affordable
$37k/year
Based on $857.5/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($44,318) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Nevada, MO

Nevada, Missouri, is a charming small town located in the southwestern part of the state, serving as the seat of Vernon County. With a population of around 8,000 residents, it offers a tight-knit community atmosphere that is typical of rural America. Founded in 1871, Nevada has a rich history reflected in its downtown area, featuring historic buildings and local businesses. The town is surrounded by picturesque landscapes and numerous recreational opportunities, including parks and nearby lakes, making it ideal for outdoor enthusiasts. The historic downtown district, known for its quaint shops and restaurants, hosts several annual events that foster community spirit, such as the Nevada Fall Festival and the Vernon County Fair. Education is supported by quality local schools, and the presence of institutions like Cottey College provides higher education opportunities for residents. Nevada is also well-connected by major highways, making it accessible for those traveling to nearby larger cities. Overall, Nevada, MO, embodies the essence of small-town America, with its welcoming community, rich cultural heritage, and a variety of local amenities.

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